How does technology improve big data decisions?

January 25, 2017 by Guest Contributor

The consumer economy has evolved dramatically over the past few years — in large part due to technology and access to large amounts of data. Credit data, especially, can be a powerful asset for financial institutions in this new environment.

  • More than 88 million U.S. consumers use their smartphone to do some form of banking.
  • 67% of consumers made purchases across multiple channels in the last six months.

With the help of data scientists, financial institutions can build models that crunch huge volumes of data and append their own customer data to drive portfolio management, customer acquisition and collections decisions across digital and mobile channels.

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